MC EXCLUSIVE Poonawalla Fincorp picks Jefferies, Kotak and JP Morgan for up to Rs 5,500 crore equity capital raise

On January 16, the Board of Directors of Poonawalla Fincorp gave an in-principal nod to the proposed capital raise.On January 16, the Board of Directors of Poonawalla Fincorp gave an in-principal nod to the proposed capital raise..

• Poonawalla Fincorp to raise up to Rs 5,500 crore via equity, including QIP
• Jefferies, Kotak Mahindra Capital, and JP Morgan shortlisted as advisors
• Board approved fundraising, pending shareholder approval, with a 12-month window

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The Poonawalla group promoted non-banking financial company ( NBFC) Poonawalla Fincorp has shortlisted three investment banks as advisors for its proposed equity capital raise up to Rs 5,500 crore, via a qualified institutional placement ( QIP) or other routes, multiple industry sources in the know told Moneycontrol.

“ Jefferies, Kotak Mahindra Capital and JP Morgan have been tapped recently for the deal ,” said one of the persons above. A second person confirmed the above syndicate of banks and added that the transaction would facilitate growth capital for Poonawalla Fincorp, going ahead.

A third person also confirmed the same. All the three persons above spoke to Moneycontrol on the condition of anonymity.

In response to an email query from Moneycontrol, Poonawalla Fincorp said, “The Board has approved fundraising of up to INR 5,500 crore through equity, including a QIP, which is currently subject to shareholder’s approval . We have a 12-month window from thereon to execute this. At this stage, it is too early to comment further, and any additional interpretation would be purely speculative.”

Email queries sent to Jefferies and Kotak Mahindra Capital were left unanswered at the time of publishing this article. JP Morgan declined to comment.

On January 16, the Board of Directors of Poonawalla Fincorp gave an in-principal nod to the proposed capital raise. The share price of the firm has risen by 38.37 per cent in the last year and by 16.19 per cent in the last five trading sessions.

Incidentally, back in July 2025, Poonawalla Fincorp approved the raise of up to Rs 1,500 crore from promoter entity Rising Sun Holdings (Adar Poonawalla) via the preferential allotment route. Adar Poonawalla, the CEO of Serum Institute of India is the Chairman of the Board of Directors.

At the end of day’s trade on February 6th, the firm had a market cap of Rs 35,060 crore. For the third quarter ended December 31, 2025, its net profit surged to Rs 150.22 crore, with Rs 1,818.42 crore clocked in revenues.

Poonawalla Fincorp had assets under management (AUM) of Rs 55,017 crore as on December 31, 2025, and employed 5,264 people as of December 31, 2025. The firm’s financial services offerings include loan against property, gold loans, prime personal loans, education loans, consumer durable loans, business loans, instant consumer loans, commercial vehicle loans, supply chain finance & NBFC loans, pre-owned car finance, loans for professionals, machinery loans and shopkeeper loans.